In August 2014, CDC committed $15 million to IACH through the Impact Fund, alongside investments from the French and Dutch DFIs, Proparco and FMO, and private capital from the Lundin Foundation, Netri Foundation, Soros Economic Development Fund and Alliance for a Green Revolution in Africa. Our investment helps farmers in West African countries, including Ghana, Cote d’Ivoire and Mali, improve their food security.
Farmers in West Africa struggle to increase their productivity and to access markets.
IACH invests in companies that improve access to local supply chains for smallholder farmers, helping them to boost trade and make the most of export opportunities.
Injaro provides business advice as well as technical assistance to build managerial and financial capacity within investee companies.
Environmental and social aspects
We have worked closely with the fund manager to develop and implement an Environmental and Social Management System (ESMS) for this first-time fund.
Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.
- Africa, West Africa
For funds, the countries listed here are those the fund has invested in so far.
- Burkina Faso, Cote d'Ivoire, Ghana, Mali, Niger
We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people. For funds, the sectors listed here are those the fund has invested in so far.
- Food and agriculture, Other consumer services
- Investment type
We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).
- Intermediated investment
- Fund manager:
- Injaro Investments Ltd
- Start date
For direct investments, this is the date CDC committed capital to the business or project.
For funds, this is the date that CDC committed capital to the fund.
For underlying fund investments, this is the date that the fund invested capital into the business.e
- September 2014
For direct investments, this is the total amount that CDC has committed to the business or project (it may be a combination of equity and debt).
For funds, this is the total amount that CDC has committed to the fund.
This is the investee company’s place of incorporation; or a fund’s jurisdiction.
Investments made by this fund
|Investment name||Country||Region||Sector||Start date||Status|
| Faso Kaba SARL|
Faso Kaba SA is a seed company based in Bamakl, Mali which provides improved seeds to farmers. Its primary objective is to increase the supply of high quality seeds.
|Mali||Africa, West Africa||Food and agriculture||November 2010||Active|
| Kona Agri-Processing Ltd.|
Kona Agro processing Ltd is a Ghanaian company that processes cashew nuts for export and began processing raw cashew nuts in 2008. The company is located is Awisa in the Brong-Ahafo region of Ghana.
|Ghana||Africa, West Africa||Food and agriculture||March 2011||Active|
| M&B Seeds Ltd.|
M&B Seeds & Agricultural Services Co Ltd is a Ghanaian company that supplies improved to farmers in Ho, the regional capital of the Volta Region. The company produces hybrid maize, open-pollinated maize, cowpea, sorghum and groundnut seeds.
|Ghana||Africa, West Africa||Food and agriculture||May 2011||Active|
| ES Alheri|
ES Alheri SA began operations in 2007 and produces cowpea, sorghum, millet and groundnut seeds primarily in Dogondoutchi (approximately 400 km from Niamey, north of the Niger/Nigerian border. The region is dominated by small-scale agriculture. The company also supplies seeds to smallholder farmers.
|Niger||Africa, West Africa||Food and agriculture||June 2011||Active|
| Neema Agricole du Faso SA (Nafaso)|
Neema Agricole du Faso SA is a Burkina Faso based company producing improved maize, rice and cowpea seeds at affordable prices to resource-poor, small-scale farmers in the rural western and south-western regions of Burkina Faso.
|Burkina Faso||Africa, West Africa||Food and agriculture||October 2012||Exited|
Proveto SA is an Ivorian company founded in 1999. It started as a veterinary products distributor and developed into a day-old broiler and layer chicks producer. It has subsequently added animal feed to its product range. The company is based in Abidjan but will also operate in Bouaké (central region) and San Pédro (in the south west of the country)
|Cote d'Ivoire||Africa, West Africa||Food and agriculture||January 2013||Active|
| Sekaf Ltd|
Sekaf Ghana Limited is based in Tamale, the capital of the northern region of Ghana. It procures and trades cashew nuts, shea nuts, sesame seed and soya beans. It is also invovled in the processing and packaging of shea-based bath and beauty products.
|Ghana||Africa, West Africa||Other consumer services||July 2013||Active|
| Agricare Limited|
Agricare Limited is a Ghanaian owned and operated company that manufactures and sells poultry feed. It also produces and sells livestock feed on a small scale for reputable research institutions in the country. In addition it trades in feed input materials and animal health products.
|Ghana||Africa, West Africa||Food and agriculture||April 2015||Active|
| Comptoir 2000|
Comptoir 2000 is a Malian improved seed production company which started as a distributor of agro-input such as herbicides. It has been operating for 25 years.
|Mali||Africa, West Africa||Food and agriculture||August 2015||Active|
| Gold Coast Fruits Limited|
Gold Coast Fruits Limited (GCF) is a Ghanaian company, established in 2005, that engages in the cultivation of ‘Golden Sweet’ (MD2) pineapple for export to the European and Middle Eastern market. The company’s plantation is in Adeiso, in the Eastern Region of Ghana which is a few kilometres outside Accra.
|Ghana||Africa, West Africa||Food and agriculture||June 2016||Active|
| Protein Kissee-La SA|
Protein Kissee-La is an infant food producer.
|Cote d'Ivoire||Africa, West Africa||Food and agriculture||June 2016||Active|
| Sahel Grains|
Sahel grains is a maize aggregation and processing company
|Ghana||Africa, West Africa||Food and agriculture||July 2016||Active|
AviNiger is a greenfield company that has been incorporated to set up a cutting edge poultry farm for egg production.
|Niger||Africa, West Africa||Food and agriculture||June 2017||Active|
|Novafrique SA (NISA)||Africa, West Africa||Food and agriculture||July 2018||Active|